Analysis of Social Trends Is Important Because

question 17

Multiple Choice

Analysis of social trends is important because:

• A)The values and beliefs of key stakeholders are derived from societal influences
• B)Correct assessment of social trends can help businesses avoid restrictive legislation
• C)Changes in society can create either opportunities or threats for organizations
• D)All of these are correct
• E)Only A and C are correct

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Definitions:

Producer Surplus

The difference between what producers are willing to accept for a good versus what they actually receive.

Consumer Surplus

Consumer surplus is the difference between the total amount consumers are willing and able to pay for a good or service and the total amount they actually pay.

Property Rights

The legal rights to own, use, and dispose of assets including real estate, personal possessions, and intellectual property.

Producer Surplus

The difference between what producers are willing and able to sell a product for and the actual price they receive, representing the extra benefit to producers.